The state-of-charge (SoC) of an energy storage system (ESS) should be kept in a certain safe range for ensuring its state-of-health (SoH) as well as higher efficiency. This procedure maximizes the power capacity of the ESSs all the times. Furthermore, economic load dispatch (ELD) is implemented to allocate power among various ESSs, with the aim of fully meeting the load demand and reducing the total operating cost. In this research article, a distributed multi-agent consensus based control algorithm is proposed for multiple battery energy storage systems (BESSs), operating in a microgrid (MG), for fulfilling several objectives, including: SoC trajectories tracking control, economic load dispatch, active and reactive power sharing control, and voltage and frequency regulation (using the leader-follower consensus approach). The proposed algorithm considers the hierarchical control structure of the BESSs and the frequency/voltage droop controllers with limited information exchange among the BESSs. It embodies both self and communication time-delays, and achieves its objectives along with offering plug-and-play capability and robustness against communication link failure. Matlab/Simulink platform is used to test and validate the performance of the proposed algorithm under load disturbances through extensive simulations carried out on a modified IEEE 57-bus system. A detailed comparative analysis of the proposed distributed control strategy is carried out with the distributed PI-based conventional control strategy for demonstrating its superior performance.